FSM vs HYMC: Correlation
Measured on weekly returns over the past three years, Fortuna Mining Corp. (FSM) and Hycroft Mining Holding Corporation (HYMC) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSM and HYMC?
Across a 3-year window, the weekly returns of FSM and HYMC correlate at 0.66, strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Stretching to 5 years gives 0.26, with an annualized covariance of 3796.4 %².
Among the 12 assets we track against FSM, HYMC ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HYMC outperformed by 453.5 percentage points (+69.0% for FSM against +522.5% for HYMC). One caveat on sizing: HYMC is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FSM vs HYMC: side by side
| FSM (Fortuna Mining Corp.) | HYMC (Hycroft Mining Holding Corporation) | |
|---|---|---|
| 1-year return | +69.0% | +522.5% |
| 5-year return | +196.5% | +28.5% |
| Volatility (ann.) | 59.4% | 96.6% |
| Beta vs S&P 500 | 1.22 | 0.99 |
| Max drawdown (3Y) | -41.2% | -66.9% |
| Market cap | $3.8B | $2.4B |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSM | HYMC |
|---|---|---|
| 2022 | -3.8% | -13.4% |
| 2023 | +2.9% | -53.9% |
| 2024 | +11.1% | -9.8% |
| 2025 | +128.7% | +975.6% |
| 2026 | +30.6% | +9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSM and HYMC good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FSM and HYMC?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.65 over the last year and 0.26 over 5 years.
Is HYMC a good diversifier for FSM?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fsm-vs-hymc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fsm-vs-hymc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSM correlations · HYMC correlations
